MIE expects to spend $40 million over the next five years tobuild out the site, which has room for 612,000 sf of commercialspace. It will contain a combination of 10 flex and R&Dbuildings and four one-story office buildings. The park will beMIE's sixth development near BWI Airport and the 33rd in theBaltimore area.
The market timing is good to start another new project, saysGerald Wit, MIE's vice president of marketing. "We've had verysolid success at other parks."
The area's prospects have improved over the years as well. "Thearea used to be populated by airport-related companies, but thebalance has shifted in the last 10 years and now has emerged as amarket in its own right," he says.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
